Arterial Network learned for the first time that Suzhou Foremed Legend Medical Technology Co., Ltd. (hereinafter referred to as "Foremed Legend"), a domestic high-end medical beauty optoelectronic equipment manufacturer, recently announced the completion of the Pre-A round of financing led by Woyong Fund and co invested by old shareholder Yuanyi Capital. It is reported that this round of funds will be used for research and development investment, production conversion and mass production, and market promotion.
A few months ago, Foremed Legend received tens of millions of yuan in angel round financing exclusively invested by Far Eastern Capital. In a short period of time, Foremed Legend was able to complete another round of financing and gain high recognition from both new and old shareholders, which proves the favor of the capital market.
Make the three words' Foremed Legend 'synonymous with safe and effective medical beauty equipment
As a new entrant in the field of medical beauty optoelectronic equipment, Foremed Legend, established in September 2021, positions its products in the research and manufacturing of mid to high end optoelectronic equipment, and aspires to become a leading global enterprise in medical beauty optoelectronic equipment.
The core founding team comes from Peking University and prestigious overseas universities, and has been deeply involved in the medical aesthetics and optoelectronics industry for many years. They have a solid professional technical foundation and a deep understanding of the industry. Technical R&D personnel account for two-thirds of the company's workforce.
Looking at the domestic market, almost all of the high-end medical beauty optoelectronic equipment used by legitimate medical beauty institutions are imported products, and the overall market share of imported manufacturers in the domestic compliance market is over 80%. Previously, due to high technological barriers, most domestic equipment was concentrated in the mid to low end product pipeline.
As the medical beauty market continues to expand, expensive imported compliant equipment has become an unbearable pain for many small and medium-sized medical beauty institutions, leading to the emergence of gray industries such as counterfeit goods and illegal leasing. There are countless medical beauty accidents caused by the use of parallel imported and counterfeit equipment. What was supposed to make beauty seekers happier has turned into fatal disfigurement.
Foremed Legend The team has elevated the safety and effectiveness of the product to the top priority of enterprise development from the beginning, hoping to“ Foremed Legend ”Three words to create a safe and effective synonym.
Multiple self-developed innovative products enter the registration stage
In just over a year since its establishment, Foremed Legend has made rapid progress in innovative research and development as well as product implementation. The company's core product ForePico multi wavelength picosecond laser therapy device has recently officially started registration and testing, and the measured product performance parameters are not inferior to similar imported products.
ForePicoProduct image
Earlier this year, Foremed Legend's self-developed new generation intelligent water light machine has officially submitted its registration application and completed the medical device quality system assessment, and will soon be officially approved for market launch.
At the same time, product pipelines such as long pulse width laser therapy devices have also completed prototype development and are about to begin the inspection process.
Patents are the cornerstone of the development of technology-based enterprises. As of now, Foremed Legend has 4 approved patents, 4 invention patents have entered the substantive examination stage, and the innovation engine is surging.
New and old shareholders join forces to accelerate the commercialization process
Based on real clinical needs, the integration of medicine and engineering, the professional ability to value innovation at the source, the profound industry awareness of the founding team, compliance and market access advantages, and rich resource channels... These multidimensional and overlapping underlying capabilities converge to become the strength and driving force for Foremed Legend to move forward vigorously.
With the deepening of scientific understanding among medical beauty consumers, future skin phototherapy will present increasingly precise and refined characteristics, and the medical beauty market will ultimately return to a reasonable state of "replacing conceptual marketing with actual therapeutic effects". The concept of Foremed Legend is to enable more beauty seekers to truly experience high-quality and ultra safe medical beauty optoelectronic products and services.
Regarding this financing, Xia Yuqing, founder of Foremed Legend, expressed her sincere gratitude to the new and old shareholders for their recognition and support. Foremed Legend has gone through many difficulties this year, but still achieved proud results. For startups, every step from research and development to trial production, from conversion to mass production, will encounter huge challenges and require the Foremed Legend team to make arduous efforts. We will definitely adhere to the original intention of founding Foremed Legend, and make good products with dedication, so that everyone can have a sense of trust as long as they see the Foremed Legend brand
The Foremed Legend team has accumulated rich experience in the entire industry chain of medical beauty optoelectronic equipment, not only with profound industry knowledge, but also with unique product definition capabilities, which is very rare. In the consumer market, the explosive period of medical beauty optoelectronic projects has arrived. With the rise of domestic products, Foremed Legend, which adheres to product compliance and safety effectiveness as its core, will definitely become a leading enterprise
Yuanyi Capital stated that as a certain track for rapid growth in the next 10 years, there are three opportunities in the high-end medical beauty optoelectronic equipment field: compliance upgrading, domestic substitution, and source innovation, which coincides with a rare market window period. The Foremed Legend team has been deeply involved in the medical beauty industry for many years, with a deep understanding of the industry and core capabilities covering various aspects such as research and development, registration, and commercialization. It is expected to establish a benchmark for emerging domestic high-end medical beauty optoelectronics brands. In less than a year after investing in Yuanyi Angel Series, the Foremed Legend team has demonstrated excellent industry experience, learning ability, and execution ability. The team building and product research and development have made rapid progress, so we chose to invest heavily in the Pre-A round and continue to support it
